The shopping season is upon us and surely you’ll pull out the plastic a few times while at the mall or online.
If you plan on using credit cards to make purchases this Holiday Season, why not kill two birds with one stone? There are a few simple steps you can follow to use credit cards to rebuild a low credit score.
First, educate yourself on the credit scoring algorithms. Although these formulas are highly secretive, there are some things you know for sure. For instance, credit scoring formulas take your Utilization Ration into account. Your Utilization Ratio is the amount you owe on a card compared to the available credit.
See the other two steps to using credit cards to rebuild credit here.